Question 1

A(n) ______________________________ is a form of payment authorizing the collector to transfer funds electronically from the payer's bank account to the collector's bank account.

Accepted Answer

The answer of A(n) ______________________________ is a form of payment...

Question 2

The ______________________________ data store contains the details of each payment as reflected on the remittance advice (RA) accompanying a payment.

Accepted Answer

The answer of The ______________________________ data store contains the details...

Question 3

The ______________________________ data store contains invoice records.

Accepted Answer

The answer of The ______________________________ data store contains invoice records....

Question 4

The ______________________________ data is created as sales returns, bad debt write-offs, estimated doubtful accounts, or similar adjustments are processed.

Accepted Answer

The answer of The ______________________________ data is created as sales...

Question 5

When customers pay with a(n) ______________________________ card, float is eliminated.

Accepted Answer

The answer of When customers pay with a(n) ______________________________ card,...

Question 6

The acronym ACH stands for ______________________________.

Accepted Answer

The answer of The acronym ACH stands for ______________________________....

Question 7

Organizations should reconcile their ______________________________ on a regular basis to ensure that valid deposits are recorded correctly.

Accepted Answer

The answer of Organizations should reconcile their ______________________________ on a...

Question 8

The two types of accounts receivable systems discussed in the text are the balance-forward and ______________________________ systems.

Accepted Answer

The answer of The two types of accounts receivable systems...

Question 9

The Check Clearing for the 21st Century Act called ______________________________ allows banks to exchange check images electronically.

Accepted Answer

The answer of The Check Clearing for the 21st Century...

Question 10

Electric and gas utility companies typically use the ______________________________ type of accounts receivable system.

Accepted Answer

The answer of Electric and gas utility companies typically use...

Question 11

Often times a stub is attached to the customer statement. This stub is also known as a(n) ______________________________ document.

Accepted Answer

The answer of Often times a stub is attached to...

Question 12

The ______________________________ network is one of the earliest and most prominent methods for EFT in which the collector's bank account is credited and the payer's bank account is debited for the amount of a payment.

Accepted Answer

The answer of The ______________________________ network is one of the...

Question 13

______________________________ is a fraud resulting from the improper segregation of duties between the functions of handling cash and recording cash receipt events.

Accepted Answer

The answer of ______________________________ is a fraud resulting from the...

Question 14

In a(n) ______________________________ billing system, invoices are prepared upon acceptance of the customer order.

Accepted Answer

The answer of In a(n) ______________________________ billing system, invoices are...

Question 15

The acronym EFT stands for ______________________________.

Accepted Answer

The answer of The acronym EFT stands for ______________________________....

Question 16

The ______________________________ type of accounts receivable systems is appropriate in situations where invoices are prepared and sent for each sale (i.e., each shipment), and the customer typically makes payments for specific invoices when those invoices are due.

Accepted Answer

The answer of The ______________________________ type of accounts receivable systems...

Question 17

The ______________________________ process supports the repetitive work routines of the credit department, the cashier, and the accounts receivable department.

Accepted Answer

The answer of The ______________________________ process supports the repetitive work...

Question 18

In a(n) ______________________________ billing system, invoices are prepared after the goods have been shipped and the sales order notification has been matched to the shipping's billing notification.

Accepted Answer

The answer of In a(n) ______________________________ billing system, invoices are...

Question 19

In a(n) ______________________________ accounts receivable system, accounts receivable records consist of a customer's balance, categorized as current and past due, and current account activity, including such items as current charges, finance charges for past-due balances, and payments.

Accepted Answer

The answer of In a(n) ______________________________ accounts receivable system, accounts...

Question 20

In a(n) ______________________________ accounts receivable system, the customer statement displays invoices (new or settled in the current period), along with payment details.

Accepted Answer

The answer of In a(n) ______________________________ accounts receivable system, the...

Quiz 11: The Billingaccounts Receivablecash Receipts Barcr Process

A(n) ______________________________ is a form of payment authorizing the collector to transfer funds electronically from the payer's bank account to the collector's bank account.

The ______________________________ data store contains the details of each payment as reflected on the remittance advice (RA) accompanying a payment.

The ______________________________ data store contains invoice records.

The ______________________________ data is created as sales returns, bad debt write-offs, estimated doubtful accounts, or similar adjustments are processed.

When customers pay with a(n) ______________________________ card, float is eliminated.

The acronym ACH stands for ______________________________.

Organizations should reconcile their ______________________________ on a regular basis to ensure that valid deposits are recorded correctly.

The two types of accounts receivable systems discussed in the text are the balance-forward and ______________________________ systems.

The Check Clearing for the 21st Century Act called ______________________________ allows banks to exchange check images electronically.

Electric and gas utility companies typically use the ______________________________ type of accounts receivable system.

Often times a stub is attached to the customer statement. This stub is also known as a(n) ______________________________ document.

The ______________________________ network is one of the earliest and most prominent methods for EFT in which the collector's bank account is credited and the payer's bank account is debited for the amount of a payment.

______________________________ is a fraud resulting from the improper segregation of duties between the functions of handling cash and recording cash receipt events.

In a(n) ______________________________ billing system, invoices are prepared upon acceptance of the customer order.

The acronym EFT stands for ______________________________.

The ______________________________ type of accounts receivable systems is appropriate in situations where invoices are prepared and sent for each sale (i.e., each shipment), and the customer typically makes payments for specific invoices when those invoices are due.

The ______________________________ process supports the repetitive work routines of the credit department, the cashier, and the accounts receivable department.

In a(n) ______________________________ billing system, invoices are prepared after the goods have been shipped and the sales order notification has been matched to the shipping's billing notification.

In a(n) ______________________________ accounts receivable system, accounts receivable records consist of a customer's balance, categorized as current and past due, and current account activity, including such items as current charges, finance charges for past-due balances, and payments.

In a(n) ______________________________ accounts receivable system, the customer statement displays invoices (new or settled in the current period), along with payment details.